Somerset ageuK Age UK Somerset (a Company Limited by Guarantee) Report of Trustees and Unaudited Financial Statements for the year ending 31st March 2024 Company Number: 02717676 Charity Registered in England and Wales Number: 1015900
Somerset AGE UK SOMERSET (Company Limited by Guarantee) ageuK Contents Reference and Administrative Details Company Status Our Governing Document Appointment of Trustees Our Aims and Objectives Areas of Activity Our Services 10 Our Volunteers 12 Quality Marques 13 Risk Management 14 Financial Review of the Year 16 Statement of Trustees, Responsibilities 20 Independent Examiners, Report 22 Statement of Financial Activities 24 Company Balance Sheet 25 statement of Cashflows 27 Notes to the Financial Statements 28
Somerset ageuK AGE UK SOMERSET (Company Limited by Guarantee) Reference and Administrative Details 23124 Trustees. Members and Directors 202312024 S. Holt (Chair) D. F. Johnson FCA (Treasurer) G. Blackshaw N. Goswell S. Jackson J. Samways S. Shafie-Pour Chief Executive P. J. Dolan Msc Cmgr FCMI (Dipm) IRRV Principle Office and Registered Office Ash House, Cook Way, Bindon Road, TAUNTON. Somerset TA2 6BJ Solicitor Porter Dodson, The Quad, Blackbrook Park Avenue, TAUNTON, Somerset TA12PX Independent Examiner Sarah Twist FCA DChA, A C Mole LLP, Chartered Accountants, Staffoid House, Blackbrook Park Avenue, TAUNTON, Somerset TA12PX
Somerset AGE UK SOMERSET (Company Limited by Guarantee) ageuK Related Parties Age UK Somerset was an active member of the Age Concern Federation until its demise on 31 March 2011 and has subsequently laken membership of the Age England Associalion, its successor. In addition, Age UK Somerset has continued to work in active partnership with Age UK and became a Brand Partner with them in October 2010. Partnership activities during the year have ntred around supporting older people th rough the Networks free to access information and advice service, towards which we are undertaking accreditation to the I&A Quality Programme. 2021122 Age UK Somerset agreed to re1ve a sum of £21,423 from The Taunton Cider Charitable Trust. The Trust was set up to aid pensioners of the former Taunton Cider Company who needed some financial help. The Trust transferred the money on the basis that, for a period of 5 years (from March 2022), Age UK Somerset would assess and pay any claims from pensioners. The Trust was subsequently wound up. During 2023124 no assistance was sought of Age UK Somerset. sin the financial year end a number of claims have been received and processed. The Charity's wholly owned subsidiary, Age UK Somerset Trading Limited, was established to operate its trading activities. Age UK Somerset Trading Ltd ceased tiading on 22 January 2020. Administration of the Charity The Trustees. who are also diiectors for the purposes of the Companies Acl, presenl their report and the financial statements of the Charity for the year ended 31 March 2024. This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006. Company Status The Charity is a company limited by guarantee and does not have a share capitsl. Each member of the company (the Trustees) undertakes to contribute to the assets of the company if it is wound up during the time that he or she is a member, or within one year afterwards, for payment of the debts and liabilities of the company contracted before the time at which he or she ceases to be a member, and of the costs, charges and expenses of winding up, and for the adjustment of the rights of the contributories among themselves, such amounts as may be required not exceeding £1.
SOmeet ageuK AGE UK SOMERSET (Company Limited by Guarantee) Our Governing Document Age UK Somerset is a company limited by guarantee governed by its Memorandum and Articles of Association dated 26th May 1992, which were amended to allow for current governance arrangements and extend the geographical area of benefit on 28th Augusl 2003. New Memorandum and Articles of Association were adopted on 20th September 2023 to allow Trustees to serve a total of four times three-year terms of office, previously th ree times three-year terms of office. We are registered as a Charity with the Charity Commission. The Board of Trustees. which must have a minimum of 5 members, administers Ihe Charity. The Board meets regularly throughout the year and transacts all the main business of the organisation. The Trustees are volunteers and take no remuneration. The Trustees form sub-committees when required, for example Finance, and if necessary, officers will determine decisions in between regular meetings and seek ratification at the next regular board meeting. A Chief Executive is appointed by the Trustees to manage the day to day operations of the Charity. To facilitate effective operation5 the Chlef Executive has delegated authority for all operational matteTS within the terms of delegation as approved by the Trustees. The Trustees The Trustees, who are also directors of the company for the purposes of company law, are appoinled by the members of Age UK Somerset at the Annual General Meeting of the company in accordance with Ihe companvs Articles of Association. In addition, the Trustees may appoint persons to fill any casual vacancies which occur during the year and may also co-opt a limited number of additional persons to the Board. Within our Board of Trustees, we aim to have and recruit a wide range of skills and complimentary specialism, for example, persons fK)m a legal, financial and health background.
•w a Somerset AGE UK SOMERSET ageuK (Conipany Limited by Guarantee) At each AGM one third of the Trustees who are subject to retirement by rotation shall retire from offi. Unless notified in writing by the Trustee, the date of appointment of a new Trustee is taken as the date of resignation of the previous Trustee. The Chair is nominated from existing Trustees where possible, but if there are no interested candidates then this would be advertised externally. Trustee Induction and Training New Trustees undergo an induction session to brief them on their legal obligations under charity and company law as well as providing a broad picture of the activities of the Charity and its policies and procedures. This is encompassed in a Trustees, Handbook which is regularly updated. Aims and Objectives The legal objects of the Charity are to promote the wellbeing of older people within the area of the administrative County of Somerset and the unitary authority area of North Somerset. The Charity has the general aim of contributing to the quality of life of older people within its area of benefit, and this has been embodied within its mission statement. Our vision for what we want for older people in our area is quite simple: That older people, their families and carers, have opportunities and access to information and services that enable them to make choices so that they experience fulfilment and satisfaction in later life. Our mission therefore encompasses what we will do to make the vision a reality: As an organisation. and working with partner organisations, to provide valued services and promote the wellbeing and independence of older people, in all their diversity, helplng them live longer and better.
Somerset ageuK AGE UK SOMERSET (Company Limited by Guarantee) The values we seek to promote include: Using the Independen of our organisation to direct our business and select our objectives so that we maximise the independence of the individual. Striving to earn the respect of our partners and users as well as respecting the wishes and aspirations of others. Seeking to ensure that the lifestyle and circUmstanS of older people guarantees their dignity at all times. Looking to etnpower older people. Celebrating diversity and always offering equalty of opportunity. In dealing with each other and with all older people, all staff, trustees and volunteers will demonstrate: Kindness Empathy Compassion Patience Care Moving Forward The main objectives for the coming period are as outlined in the Age UK Somerset Strategic Plan 2022 -2026 with the overarching strategic themes: Maintain and develop our ServIS in response to local needs Working in partnership to enhance the vision, mission and values of Age UK Somerset Continually raising the organisation's profile Be recognised as an efficient and effective organisation, working for the benefit of older people
Somerset AGE UK SOMERSET {Company Limited by Guarantee) ageuK Be a financially sustainable organisation Understand the positive difference Age UK Somerset is making to the lives of older people During 2023 the trustees have been developing, consulting on and refining a new Corporate Strategy which will be adopted during 2025 and cover the period 2025 to 2029.
Somerset ageuK AGE UK SOMERSET (Company Limited by Guarantee) Our Areas of Activity The main areas of activity continue to be the delivery of direct services to older people,, promoting partnership and co-operation with other organisations concerned about meeting Ihe needs of older people. involving older people in order to ensure that their voices were heard; campaigning and developing new work projects. The delivery of direct ServIS to older people is at the heart of what the Charity does. All our services aimed to improve the wellbeing and quality of life of and for older people. Much of the work in 2023124 has been about continuing the recovery of services to the pre-pandemic levels absorbing the loss of substantial public sector funding, and promote the wellbeing benefits that can be achieved by participation in group activity once again. This has been achieved due to the dedication of staff and volunteers and the value older people have continued to place on Age UK Somerset services. The Wellbeing Servi, whose focus is reducing loneliness and improving emotional, rnental and physical wellbeing by creating new friendships and providing enjoyable conversation to brighten the day, has continued to grow during the year, incorporating the Befriending Service for those with mobility problerns, which complements the Active Befriending Service and also a dedicated Friendly Phone Calls service for those who would prefer a regular telephone chat rather than a faCe-tO-fa visiL The Cognitive Stimulation Therapy Servi (which helps slow down the initial progiess of dementia) continues to slowly expand and Age UK Somerset continues to seek external funding to ensure the viability of these sessions can be maintained and to enable the reduction of the cost to participants ensuring the seNice can be accessible to all. The charity remains grateful to the many organisations that help fund the work Age UK Somerset does. This enables 7 of the 11 services offered, to be free to the client. Thanks go to the National Lottery Communities fund, Community Council for Somerset, Somerset Community Foundation, Somerset Council, North Somerset Council, St Monica Trust, Age UK national, The Somerset ICB, the Bristol, North Somerset and South Gloucester ICB'S and many others, mentioned elsewhere in this report. The Charity continued to have a role to play in campaigning on a variety of Issues relevant to older people and developed work with Age UK on topics such as winter fuel payments, pension reform and paying for care. This is an area of work that continues to develop.
Somerset AGE UK SOMERSET (Company Limited by Guarante8) ageuK Delivering Public Benefit All of the activities of Age UK Somerset are aimed at promoting the welfare of older people across Somerset and North Somerset and are designed to provide support andlor activity that enhances our beneficiaries, quality of life. The impact of our woik is detnonstrated by the regular and hugely positive feedback received from our Servi users. This feedback is regularly monitored and is an important component in our constant review and improvement process relating to our service delivery. The following section of this report shows the scope of our work. The Trustees have had due regard to the Charity Commission guidan on public benefit. Our Services Information and Advice (l & A) is delivered throughout Somerset and North Somerset providing older people and their families with information and advice on matters of concern to them, assisting them to make decisions. This service is primarily delivered from a ntral office location, which handles the majority of enquiries via the telephone, as well as online enquiries. A small team of community based l & A volunteers take the service to locations across our area making the service accessible to more older people. The central office team also hold regular surgeries throughout the area. The team deal with over 7000 enquiries each year. Included in this work was the support to clients in applying for Attendance Allowance and Disability Living Allowance, with successful claims bringing in an estimated £1.6m into the local economy and having a significant impact on the individuals. Ageing Well is the service that provides older people with opportunities to get together to stay fit and active. During the year over 4.000 classes were held right across Somerset and North Somerset in dozens of accessible locations. The classes cover a range of activities from traditional chair-based activities such as Flexercise led by trained io
Somerset AGE UK SOMERSET ageuK (Company Limited by Giiarantee) Volunteers, to Movement to Music, Yoga and Tai Chi sessions to name a few that are led by paid qualified instructors. A number of activities have been set up specifically to cater for the preferences of older men. We also run Otago classes, which are specifically tailored to those who wish to "Stay Strong, Stay Steady" To help those with mobility issues we also run 'Get Strong, Get Steady,. With our Falls Prevention classes we believe all older people should have the opportunity to regainlmaintain their strength and balance and thereby reduce the risk of slips, trips and falls. We will continue to ensure all our venues are accessible. safe and in a variety of locations. The Toe Nail Cutting Service, which has been part-funded by the Somerset Partnership NHS Foundation Trust, is available to older people with the aim of improving their quality of life and mobility. Cuts are delivered by trained assistants, mainly in clinic settings across the county, usually four times a year. This vitally important service caters for some 800 older people. As some of the cuts are provided in clients own homes we are required to be registered with the Care Quality Commission (CQC) and subject to an annual audit. We are currently rated a 'Good' Servi by the CQC. Our Wellbeing Services are about cotnbating the loneliness and isolation of older people across Somerset and North Somerset by improving emotional, mental and physical wellbeing: creating new friendships. providing some enjoyable company and conversation to brighten the day. All wellbeing serVIS are free to access. and incorporate: Our Active Befriending Service matches a trained volunteer to provide one to one support to individuals including encouraging and enabling them to access services and activities in the community whenever possible or simply offering someone to talk to while enjoying the benefits that getting outdoors for a walk and being more active can bring. We also offer a Befriending Service to those with mobility limitations providing companionship and a window to the outside world. Our Friendly Phone Call service in partnership with Open Mental Health, is offered for those that suffer mild to moderate depression and anxiety or would appreciate having a regular telephone chat with a friendly volunteer in preference to a face-to-face visit. On average around 120 individuals are supported each month. li
Somerset AGE UK SOMERSET ageuK (Company Limited by Guarantee) Our Chat and Map service was intrOdUd with help from the National Lottery. We visit the homes of older people offering a holistic approach to 301ving a wide variety of issues that may be affecting the quality of life of an older person. Together, we carry out an assessment 'map' of daily life, looking to provide solutions to help make the daily life that much better. Issues uncovered range from struggling with rising bills, feeling isolated and lonely, or having trouble coping in their homes. Solutions may be provided through connections to other elements of the Wellbeing Service, or other Age UK Somerset services, occasionally referrals to outside organisations Cognitive Stimulation Therapy is a Servi that can help those with a recent diagnosis of dementia. buy some more time. It is non-pharmaceutical intervention and provides a safe space for people to enjoy life now and spend time with others in a similar situation. Information & Advice North Somerset 'SCAMS' is an Anti-scams project with North Somerset Trading Standards where our staff member works with local people who had sadly been the subject of a scam. Funding for this project ceased at the end of the financial year. Age UK Somerset helps many vulnerable and elderly people each year who had been victims of scamming and many awareness raising sessions are held to equip people who may be targeted. Our Wonderful Volunteers We have had another very sucSsful year in terms of recruiting and retaining volunteers. We are proud to have 410 active volunteers as part of our team. ?J Volunteers, Week a9eu Our volunteers have roles in our Ageing Well. Information & Advice, Chat & Map, Wellbeing services and, Cognitive Stimulation Therapy as well as providing administrative support. We want to make the volunteers feel appreciated and as part of that process we run a number of 'Thank You, events during Volunteers. Week each June and also in December. The volunteers have indicated they value these. We are grateful to the many business who support this activity through donations of time and facilities. 12
Somerset AGE UK SOMERSET (Company Limited by Guarantee) ageuK We also encourage volunteers to give feedback in order for us to improve their experience and our services for the clients that they visit. The Chief Executive fronts a regular meetings with volunteers to gain their valuable feedback. We also kept in regular touch by email and our Vol, online volunteer magazine. Whilst it is difficult to calculate, we estimate that each year our volunteers contribute around 45.000 hours helping to make our services both successful and very cost effective. If we apply the minimum wage to the hours they give this amounts to well over £650,000 and many of the tasks would be valued much higher than the minimum wage. The value of this unpaid volunteer time is not able to be recognised in the Financial Ststements as stipulated by accounting rules. The organisation, along with those who benefrt directly from the activities they undertake, greatly value the contribution volunteers make to the organisation and to the lives of older people. Quality Marques The Charity Quality Standards for the Age UK network verify that Age UK and its partners are well0Verned and effective organisations committed to the wellbeing of older people, staff and volunteers and to working in partnership with others. The Standards are externally assessed by industry leaders SGS and endorsed by the Charity Commission. Age UK Somerset has held the Charity Qualty Standards since May 2018. In 2021 the charity completed a self-assessment to ensure it continues to hold to the standard. During 2023 the Charity successfully underwent inspection of this and retained the CQS quality marque. In addition to the above, the Information & Advice service is in the process of attaining the rigorous standard necessary to be awarded the Information & Advice Quality Programme {IAQP). The Chief Exeoutive is the Registered Care Manager and the organisation is registered to provide 'personal care, by the Care Quality Commission {CQC) in relation to its Toe Nail Cutting service. The last two assessments by the CQC resulted in Age UK Somerset being given a classification of 'Good'.
Somerset AGE UK SOMERSET (Company Limited by Guarantee) ageuK Risk Management The Trustees have in pla a formal risk management process to assess risks and implement risk management strategies for the Charity and its subsidiary trading company. This process includes review by Trustees and senior managers. The process identifies the types of Tisks faced, prioritises them in terms of likelihood of occurrence and potential impact and identifies the means of mitigating these risks. Key strategic documents reviewed and continually updated by the organisalion include: The Business Continuity Plan The Strategic Business Plan. Key risks that are continualty monitored by the organisation include: Safeguarding Risks Safeguarding of all our elderly clients, Volunteers and Staff is key for Age UK Somerset. Detailed policies and procedures are regularly reviewed, full training is provided for all our Volunteers and Staff and an 'easy read, prodUle guide is provided. We maintain a regular and positNe relationship with both the Somerset and North Somerset Safeguarding Boards. Threats to Staff & Volunteers. Safety All staff and volunteers go through an induction prosS. Relevant policies relating to both financial and personal safety are regularly updated (on a rolling basis) by the Trustees, Chief Executive and Head of Support Services. All policies are available to Volunteers and Staff at all times at Ash House and remotely via The Hub portal. l.T. Failure As with many organisations, both large and small. we rely heavily on l.T. for banking, finance recording, secure data capture etc. We retsin the ServIS of a Devon based company called l.T. Champion to support us in our l.T. infrastructure requirements and regularly discuss with them any improvements we could make. 14
Sornerset ageuK AGE UK SOMERSET (Company Limited by Guarantee) Financlal Fraud We adhere closely to a Financial Internal Controls policy and accompanying checklist formulated on the recommended Charity Commission templates available on their website, to safeguard the Charity from potential fraudulent acts impacting on our banking and financial processes. The Risk Management process is reviewed annually and monitored during the year by Trustees. Relevant Age UK Somerset policies and assessments" are reviewed by the Board of Trustees on a periodic rolling basis. "Each 'Service' has its own risk assessment(s). Each time Age UK Somerset has a new activity or service, a full risk assessment is completed. 15
Somerset AGE UK SOMERSET (Company Limited by Guarantee) ageuK Financlal Review of the Year ststem8nt of Financlal Activlties Total income from all sources was £1,043,331 (2023." £939,81n an increase of £103,514 (11 .00/0) {2023.' increase £243,536 and 35. Oyo) from the previous year. No trading activities were carried out during the year through the Charity's wholly owned subsidiary trading company. Balance Sheet At the year end the Charity's net assets stood at £650.072 (2023.. £672,471) of which £140,374 <2023.. £727,66n was in restricted funds. Details of the funds and the movements therein are given in Notes 19 and 20 to these accounts. Summary There was an overall deficit of £22,399 (2023.. sury)lus £12, 196) a decrease of £34,595 (283.70k) from the previous year. The financial position of the Charity follows a very difficult period following the pandemic, and is largely due to additional funding support resulting from sucSsful grant applications foi specific pieces of work to aid cost of living support and falls prevention. The Charity's funds balance is presentty in excess of the reserves policy and provides a secure basis to facilitate designated project work and to mitigate the anticipated return of the challenge of raising finance to deliver the Charity's work across Somerset and North Somerset in the future. Legacies From time to time the charity is the recipient of bequests, often in the form of legacies. Legacies include an interim distribution of £27,720 from the late Audrey Arkell, and £34,000 from the late Elsie Hanson during the financial year. A further interim distribution has been reIVed from the late Audrey Arkell since the year end. 16
Somerset AGE UK SOMERSET (Company Limited by Guarantee) ageuK Ravlaw of Principal Funding Sources The Board of Age UK Somerset continues to operate a policy of accessing as diverse and varied a range of funding as possible in order to not become over reliant on any single Sour and therefore provide income security. The majority of the Charity's funding comes from agreements with organisations that share and wish to support the Charitys aims and objectives. Increasingty this source of funding is subject to cuts, however the recognition of the consistently positive impact our charity's work has on the wellbeing of older people has significantly contributed to a continuation of this financial support Wherever possible the Charity aims to maintain these funding relationships going foThvard and is actively seeking to further this objective by working in partnerships with other charitable organisations. Although funders will have their own budget constraints, the Charity still consistently endeavours to forge longer tenn agreernents with fundeis wherever possible. The Charity has historically been in reIpt of significant levels of income from service fees. The Ageing Well serrfi, has, historically, been a good source of service fee income and in the financial year are operating once again at around £200,000 per annum pre-pandemic levels. servi fees are re-invested in supporting the services as designated funds. Grants from foundations and trusts, legacies and donations are gratefully received and the Charity is able to recover tax under the Gift Aid scheme from those donations from individuals which qualify. The charity also receives income from a number of commissioned services. These include TNC, a Cognitive Stimulation Therapy service, Friendly Phone Calls and a Falls Prevention 'Stay Strong, Stsy Steady, servi. 17
Somerset AGE UK SOMERSET (Company Limited by Guarantee) ageuK Working Relationshlps The Charity is a member of the Age England Association and a Brand Partner of Age UK national. Those who have enabled us to deliver our charitable objectives during the financial year included: Age UK, North Somerset Distnct Council, Pier Health Group, Quartet Community Foundation, ReThink, Somerset Community Foundation, Somerset's Unitary County Council, Community Council of Somerset, Somerset NHS Foundation Trust, the National Lottery Communities fund, St Monica Trust, Tesco Bags for Life supporting Groundwork, Bumham & Weston Energy CIC, Bridgwater Town Council, The Heath and Well Being Board at North Somerset Council and several other generous entities and individuals. The Charity would wish to thank all organisations and individuals who have supported its activities during the year. Reserves Policy The Board has established a policy whereby sufficient unrestricted funds not held in fixed assets (free reserves) should be accumulated over time to provide working apital foi the continuation of operations for a minimum 3 month and maximum 6 month period. This level of free reserves can equally be applied to 12 months budget considerations, any contractual obligations that are likely to materialise in the event of the Charity wholly or partly ceasing operations and to provide the funding of anticipated capital expenditure. The Board considers that in keeping with the above requirements an appropriate level of free reserves from the General Fund would be an amount of £350,000 (2023." £350, 000). At 31 March 2024 the free reserves held in Unrestricted Funds amounted to £501,402 (2023.. £540,580). This rUre is arrived at by taking the total value of the Unrestricted Funds £509,698 (2023.. £544, 804) less the value of fixed assets £8,296 (2023.. £4, 224). The £151,402 {2023.' £190,580) of reserves held in excess of the policy includes £193,343 (2023.. £142,263) of designated funds, which will be used to support fee income generating services, in addition to the following specific areas: Befriending Service project opportunities Volunteers training and events 18
Somerset AGE UK SOMERSET (Company Limited by Guarantee) ageuK The Trustees have approved a motion to undesignate the unused balances amounling to £99,356 of the IT hardware renewals and IT Cloud infraslructure initiatives in areas such as Finance, Human Resources and Telephony since the year end to ensure funds can be directed to support the continuation of charitsble services. Detsils of the designated amounts are speCifd in the Statement of Funds (Notes to the Accounts 19). The remaining surplus of free reserves allows sufficient cover for income loss risk, the negative financial impact of unexpected adverse events and facilitating funding for further new opportunities. Investment Policy The Board has the power to invest the ChaTitys assets as it sees fit. However, its present policy is not to have investments unless necessary to accumulate for an identified project, where the aim would be to invest in a manner consistent with the objectives and timing of the project. No such investments are presently held. Reserves are placed on interest bearing deposit. These are split between the Charity's principal bankers Santandei Corporate Banking, NalWe5t and the CCLA Charities Official Investment Fund (COIF) - Charities Deposit Fund. Funds are deposiled to make best use of Ihe Financial Services Compensation Scheme (FSCS), which protects deposited balances up to £85,000, Sin the year end a change in portfolio management has been actioned to support this protection. Plans for the Future Period The Charity is fully engaged with the Integrated Care Boards of both Somerset and North Somerset. This includes working as part of the Somerset and North Somerset neighbourhood initiatives, social prescribing across the VCSE Ololuntary, Community & Social Enterprise) sector and the 'prevent' agenda in respect of rnental health issues and reducing the time older people are in hospilal. The Charity has successfully established itself as a key and willing partner with other VCSE organisations across both of its areas. This has enabled various VCSE proposals being heard and acted upon. 19
Somerset AGE UK SOMERSET (Company Limited by Guarantee) ageuK As a result of known funding pressures felt by local councils and the local NHS organisations from April 2024 onwards, this has had a 'knock on, effect in which we have seen a substantial fall in the level of grant funding available to us from these Sources. We have been fortunate in that we have been able to gain a vast amount of this financial support from other funding sourtss during the current period, together with successfully being awarded other new grants arising. The Trustees have been fully engaged in monitoring Servi operations to ensure future viability and protecting the Charity in the long term. Statement of Trustees, Responsibilities The Trustees (who are also directors of Age UK Somerset for the purposes of company law) are responsible for preparing the Trustees, Report (incorporating the directorfs report) and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of the income and expenditure of the charitable company for that period. In preparing these financial statements, the Trustees are required to: Select suitable accounting policies and then apply these consistently, ObseNe the methods and principles in the Charities SORP, Make judgements and accounting estimates that are reasonable and prudent, State whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements, and Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The Trustees are responsible for maintaining proper accounting records, which disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the 20
Somerset AGE UK SOMERSET (Company Limited by Guarantee) ageuK charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in otherjurisdictions. Approved by the Board of Trustees .and signed on its behalf by: t) f.1kn- Stephen Holt David Johnson FCA Chairman Treasu rer Age UK Somerset Age UK Somerset 21
Somerset AGE UK SOMERSET (Company Limited by Guarantee) ageuK Inde endent Examiner's Re 'the com ort to the Trustees of A e UK Somerset an I report to the Charity Trustees on my examination of the accounts of the company for the year ended 31 March 2024, which are set out on pages 24 to 50. RESPONSIBILITIES AND BASIS OF REPORT As the Charity's Trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 {'the 2006 Act.). Having satisfied myself that the accounts are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act,). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145{5) (b) of the 2011 Act. An Independent Examination has been carried out instead of an audit under Regulation 31 (fj. The Charity has been granted an audit dispensation by the Charity Commission, dated 11 September 2024 under regulation 34(3){a) of the Charities (Accounts and Reports) Regulations 2008. The dispensation is given based upon the information provided by the trustees that.. The other arrangements or requirements in place for an independent examination are sufficiently similar to those imposed by section 145(1). INDEPENDENT EXAMINER'S REPORT Since the company's gross income exceeded £250.000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am member of the Institute of Chartered Accountants England & Wales. which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: 1. accounting records were not kept in respect of the Charity as required by section 386 of the 2006 Act., or 2. the accounts do not accord wlth those recoTds; or 22
Somerset AGE UK SOMERSET (Company Limited by Guarantee) ageuK Inde endent Examiners, Re 'the com continued ort to the Trustees of A e UK Somer5et an INDEPENDENT EXAMINER'S STATEMENT (continued) 3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view, which is not a matter considered as part of an independent examination: or 4. the accounts have not been prepared in accordan with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Sarah Twist FCA DChA A C Mole LLP Chartered Accountants Stafford House Blackbrook Park Avenue Taunton Somerset TA12PX 23
Somer5et AGE UK SOMERSET (Company Limited by Guarantee) ageuK Statement of Financial Activities includin Income and Ex enditure Account for the ear ended 31 March 2024 Unrestricted Restricted Notes Funds Funds Total Unrestricted Restrictèd Funds Funds Funds 2024 Total Funds 2023 Income: Donations, gifts & legacies 2 Investment income 75.692 28,062 2,500 78,192 28,062 30,219 10,567 38,500 68, 719 10,567 103,754 2.500 106,254 40,786 38,500 79,286 Income from charitable activities.. Services 4 267,548 Grants and contracts 61,820 Other 10.000 267,548 659,529 10,000 203.078 64,929 11.000 203,078 581,524 646,453 11,000 597.709 Total income 443,122 600,209 1.043.331 319,793 620,024 939,817 Expenditure: Charitable activits'es 7 130.426 935.304 1,065,730 113,081 814,540 927,621 Total expenditure 130,426 935.304 1.065.730 113,081 814,540 927,621 Net incomel(expenditure) for the year before transfers 312,696 (335.095) {22,399) 206,712 (194,516) 12,196 Transfers (347.802) 347,802 (271,806) 271,806 Net movement in funds (35,106> 12,707 (22,399) (65,094) 77,290 12,196 Fund balanS 1 April 544,804 127,667 672,471 609,898 50,377 660,275 Fund balances 31 March 509,698 140,374 650.072 544.804 127,667 672.471 24
Somerset AGE UK SOMERSET (Company Limited by Guarantee) ageuK Balance Sheet as at 31 March 2024 Com Re istration Number: 02717676 an Notes 2024 2023 Fixed assets: Tangible assets Investments 14 15 8,294 4,222 8,296 4.224 Current assets: Debtors Cash at bank and in hand 16 87,731 605,133 40,231 692,713 692.864 732,944 Liabilities: Creditors falling due within one year 17 51,088 64,697 Net current assets 650,072 672,471 Total assets less current liabllities 650.072 672,471 Net assets 650,072 672,471 The Funds of the Charity: Unrestricted Fund8: General funds Designated funds 316,356 193,342 402,541 142,263 19 19 509,698 140,374 544,804 127,667 Restricted funds Total Charity Funds 650,072 672.471 25
Somerset AGE UK SOMERSET (Company Limited by Guarantee) ageuK Balance Sheet as at 31 March 2024 continued Com Re istration Number: 02717676 an The Company is entitled to exempts'on from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024. The members have not required the Company to obtain an audit of their financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006. The Trustees acknowledge their responsibilities for. {a) ensuring that the Company keeps accounting records vthich comply with Section 386 and 387 of the Companies Act 2006 and (b) preparing finanGial statements which give a true and fair view of the state of affairs of the Company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the Company. The financial statements have been prepared in accordance with the provisions of part 15 of the Companies Act 2006 relating to the small companies regime. Approved by the Board for issue on 2025 and signed on its behalf by: D F Johnson FCA Treasurer Chair 26
.) Somerset AGE UK SOMERSET (Company Limited by Guarantee) ageuK Statement of Cashflows for the ear ended 31 March 2024 2024 2023 Notes Cashflows from operating activities: Net movement in funds for the year (as per Statement of Financial Actiwties) Adjustments to cash flows from non-cash items Depreciation 14 Investment income (22,3991 12, 196 5,850 (28,062) 3,544 (70.567) (44,611) 5,173 Working capital adjustments.. Ilncrease)IDecrease in debtors IDecrease}Ilncrease in trade creditors 16 (47.501) (13,609) 24,965 2,220 Net cash generated from operating activities (105,721) 32, 358 Cashflows from investing activities: Interest from investments Acquisitions of tangible assets 28,062 (9,922) 10,567 (5, 028) 14 Net cash froml(used in) investing activities 18,141 5, 539 Change in cash and cash equivalents in reporting period Cash and cash equivalents at the beginning of the reporting period (87,580) 37,897 692.713 654,816 Cash and cash equivalents at the end of the reporting period 605,133 692. 713 27
Sornerset AGE UK SOMERSET (Company Limited by Guarantee) ageuK Notes to the Flnanclal Statements for the ear ended 31 March 2024 Accounting Policies The principal accounting policies adopted in the preparakn'on of the financial statements are as tollows.. Basis of preparation and assessment of going concern The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Ststements of Recommended Practice applicable to charities preparing their accounts in accordance wth the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Issued October 2019)- (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) and the Companies Act 2006. Age UK Somerset meets the definition of a public benefit entity under FRS 102. The financial statements have been prepaw under the histoncal cost convention with Items recognised at cost or transaction value unless stated otheiSe within these notes. Legal status of the Charity The Charity is a company limited by guarantee and has no share capital. In the event of the Charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the Charity. A5 at 31 March 2024 the were 7 members. The company is incorporated in England and Wales. Registered office.. refer to page 3 Referen and Administrative Details 23124. Investments in Subsidiary Undertakings Investments in subsidiary undertakings are measured at cost and reviewed annually for impairment. On the basis that the subsidiary is not material to the group, consolidated accounts have not been prepared. Income Income from generated funds: Income is included in the Statement of Financial Acts-vities when the Charity is legally entitled to the income, it is probable the income wll be received and the amount can be measured reliably. The following specific policies are applied to particular categories of income. Income from donations and gifts is recognised in the year in which they are re1Vable. For legacies, entitlement is taken as the earlier of the date that either.. the Charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s} to the Trust that a distribution will be made, or when a distribution is received from the estate. 28
Somerset AGE UK SOMERSET (Company Limited by Guarantee) ageuK Notes to the Financial Statements for the ear ended 31 March 2024 Accounting Policies (continued) Incomo from generatod funds Icontinuod): Receipt of legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the Charity has been nots.fied of the executorfs intention to make a distribution. Where legacies meet the criteria for income recognition but have not been received at the balance sheet date they are recognised in legacy income and other debtors. Where legacies have been notified to the Charity or the Charity is aware of the granting of probate and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed If matenal. Income from investments is recognised when receivable and the amount can be measured reliably by the Charity, this is nonnally upon notification of the interest paid or payable by the Bank. Income from charitable activities: Income from grants, contracts and government grants is recognised when the Charity has entitlement to the funds, any perfomiance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. Where no conditions are attached to grants they are recognised within donations, gitts and legacies. Where conditions relating to perfomiance of services are attached i.e. contracts, grant income is recognised in charitable activities grants and contracts within the Statement of Financial Activities. Where grant income is received in advan of conditions being met, which are outside of the Charity's control, income is deferred within creditors." grants received in advan until grant conditions are met. Where grant income has not been received and conditions have been met in the year, income is accrued within other debtors. Income from services and other income from charitable activities are recognised in the period in which the Charity is entitled to receipt, it is probable that economic benefits will flow to the Charity and the amount can be reliably measured. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing to that expenditure, it is probable that settlement will be required and the obligation can be measured reliably. All expenditure is recognised on the accruals basis. Expenditure on charitable activities comprises costs incurred by the Charity in the delivery of its activities and services for its beneficiaries. It includes both costs that Gan be allocated direcuy to such activities and Gosts of an indirect nature necessary to support them. 29
Somerset AGE UK SOMERSET (Company Limited by Guarantee) ageuK Notes to the Financial Statements for the ear ended 31 March 2024 Accounting Policies (continued) See 1.6 below for details on support and governance cost allocations. Gfants payable are recognised within charitable activities when a constructive obligation ari868 resulting in the payment being unavoidable. Allocation of support costs and governance costs Support costs are those functions that assist the work of the Charity but do not directly undertake charitable activities. Support costs include premises costs, finance, personnel, payroll and governance costs, which support the charities activities. These costs are allocated across the vartous charitable activities. Support staff costs are allocated on the basis of staff allocated time. Other support costs such as premises costs are allocated on the basis of pro rata staff full time equivalents. Governance costs are not allocated to charitable activities as these costs are retained within head office central activity- Pension costs The Chanty make contributs'ons to defined contribution pension schemes on behalf of employees, which involves payment of contributions into employees, personal pension schemes. The assets of these schemes are held separately from the group in independently administered schemes. The amount included in the Statement of Financial Activities represents the contributions payable to the schemes in respect of the accounting period. Amounts are allocated beeen unrestricted and restricted funds based on time spent by staff. Operating leases The Charity classifies the lease of property and office equipment as operating leases as title and risks and rewards of ownership are retsined by the lessor. Rentals are charged on the straight line basis over the temi of the lease through the profit and loss account. Tangible fixed assets Whcrc purchascd, fixed assets are stated at purchase costs p5us incidental expenses of acquisition. Where donated, fixed assets are stated at estimated market value on acquisition. Depreciation is charged in respect of fixed assets and is calculated to write off the cost of the assets, less esbmated residual value, over their expected useful economic lives as follows.. Computer equipment other equipment straight line over 3 years straight line over 3 years Fixed assets are normally capitalised where the value of an asset or group of related assets exceeds £1.000. 30
.) Somerset ageuK AGE UK SOMERSET (Company Limited by Guarantee) Notes to the Financial Statements for the ear ended 31 March 2024 Accounting Policies {continued) 1.10 Cash and cash equivalents Cash and cash equivalents include cash and short term highly liquid invpstmpnts that are readily convertible to a known amount of cash and subject to an insignificant risk of change in value. 1.11 Grants received in advancè Deferred income is included within creditors" grants received in advance in the Balance Sheet and comprises grant income received in advance of the provision of charitable activities where grant Conditions outside the Charity's Control have not been met. Deferred income is recognised within income in the Statement of Financial Activities when the recognition conditions for income from grants, contracts and government grants are met, typically when the grant condits'ons are met. 1.12 Financial instruments The Charity only has financial assets and liabilities that qualify as basic financial instruments including bank balans, cash, debtors and creditors. Basic financial instruments are initially recognised at transaction prtce and subsequentiy amortised cost. 1.13 Taxation The Company is a registered charity and is therefore not liable to corporation tax or capital gains tax to the extent that its income and gains are applicable to charttable purposes only. Value added taxation is not recoverable by the Company and is therefore included in the relevant costs in the Statement of Financial Activities. The Charity subsidiary is not VAT registered and unable to recover Value Added Tax and therefore it is included within the relevant costs In the Statement of Financial Activities. 1.14 Fund accounting General Funds are unrestricted funds, which are available for use at the discretion of the Board In ftjrtherance of general objectives of the Charity and which have not been designated for other purposes. Designated Funds comprise unrestrictod funds that have baen set aside by the Board for particular purposes. The aim and use of each designated fund is set out in the notes to the accounts. Restricted Funds are to be used for specific purposes as laid down by the donor. 31
Somerset AGE UK SOMERSET (Company Limited by Guarantee) ageuK Notes to the Financial Statements for the ear ended 31 March 2024 Accounting Policies (continued) 1.15 Critical accounting estimates and judgements Thc prcparation of thc financial statements requires management to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses. Estimates and judgements are Continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The resulting accounting estimates will. by definition. seldom equal the related actual results. The Trustees are of the opinion that there are no estimates, assumptions and management judgements thatcarry a significant risk of material adjustments to the carrying amounts of assets and liabilities within the next financial year. 1.16 Donated Èorvicé8 In accordance with the Charities SORP (FRS 102}, any unpaid general volunteer time is not recognised in the financial statements. Donations, gifts & legacies Unrestricted Restricted Funds Funds Total Unrestricted Restricted Total Funds Funds Funds Funds 2024 2023 Donations and gifts Legacies 41,692 34.000 2,500 44.192 34,000 20, 130 38, 500 58,630 10.089 10,089 75,692 2,500 78,192 30.219 38.500 68, 719 The Charity benefits greatly from the involvement and support of its many volunteers, details of which are given in our Trustees, Annual report. In accordance with FRS 102 and the Charities SORP (FRS 102), the economic contribution of general volunteers is not recognised in the accounts. 32
Somerset ageuK AGE UK SOMERSET (Company Limited by Guarantee) Notes to the Financial Statements for the ear ended 31 March 2024 Investment income Unrestricted Restricted Total Unrestrfcted Restricted Total Funds Funds Funds Funds Funds Funds 2024 2023 Interest receivable 28.062 28,062 10,567 10,567 Income from charitable activities - Income from services Unrestricted Restricted Total Unrestricted Restricted Total Funds Funds Funds Funds Funds Funds 2024 2023 Ageing Well Somerset Ageing Well North Somerset Falls Prevention Somerset Falls Prevention North Somerset Infonnation Advocacy Toenail Cutting Mental Wellness Support 94.181 94,181 75,255 75,255 56,376 56,376 29, 556 29, 556 40,018 40,018 33. 196 33, 196 12.040 100 40,534 12,040 100 40,534 8, 334 8,334 37,469 37,469 24.300 24,300 19,268 19,268 267,548 267,548 203, 078 203, 078 33
Somerset AGE UK SOMERSET (Company Limited by Guarantee) ageuK Notes to the Financial Statements for the ear ended 31 March 2024 Income from charitable activities - Grants and contracts Unrestricted Restricted Total Unrestricted R•stricted Total . Funds Funds Funds Funds Funds Funds 2024 2023 Local authorities NHS Somerset and NHS North Somerset The National Lottery Fund- RC South West Region tnlcommunity- Community Organisations COL Fund Other grants Age UK Grants Surviving Winter 30,000 306,222 336,222 30, 000 270,250 300, 250 62,605 62,605 729, 663 129, 663 41.487 41,487 17,820 17,820 72,251 72,251 54.444 58,544 35.900 63,620 24.800 24,800 4,100 27,720 7, 767 115, 175 122.942 27,162 5,566 52,728 23,050 23, 050 61,820 597,709 659.529 64,929 581,524 646,453 Income from charitable activities - Other income UnrestriGtedRe5tricted Funds Funds Total unstriCted Restricted Total Funds Funds Funds Funds 2024 2023 Age UK brand partnership Other income 10,000 10,000 10.000 1, 000 10.000 1,000 10,000 10,000 11.000 11,000 34
Sornerset ageuK AGE UK SOMERSET {Company Limited by Guarantee) Notes to the Financial Statements for the ear ended 31 March 2024 Expenditure on charitable activities Note Unrestricted Restn"cted Total Unrestricted Restricted Total Funds Funds Funds Funds Funds Funds 2024 2023 Staff costs Volunteer expenses Travel Recruilment Premises costs Communication and offi costs Service related costs Grants payable Governance costs Other costs 13,448 {758) 569,521 13,990 582,969 13,232 13, 726 494,026 507, 752 464 7,930 8,394 32,064 68 12,423 32,064 68 10,244 325 22,495 22, 820 952 952 (2,482) 9,053 6,571 (2,179) (1,774) (776) 19,370 103,474 29,130 17,596 102,698 29,130 41,112 5,980 (1.704) 9,706 8,002 101,278 101,278 36, 772 36, 772 22, 090 22, 090 (19) 3, 808 3. 789 10 41,112 {49) 6,029 49,024 786,069 835,093 32,400 686,020 TI8,420 Su ort costs General Offi Senior management Finance Combined services Income generation 9,445 12,800 {653) 48.898 10,912 77,113 30,618 24,040 17,464 86,558 43,418 23,387 66,362 10,912 6,061 61,690 67,751 30,611 11,567 42, 178 (6, 063) 30, 845 24, 782 39,322 24,418 63, 740 10, 750 10.750 130,426 935,304 1,065,730 113.087 874,540 927,621 Support costs relate to those costs which are not directly attributable to the charitable activities and are apportioned by the Board on the following basis.. Su ort cost General office Senior management Finance Combined services Income generation Basis of a rtionment Pro rata to staff full time equivalents Allocated on time Allocated on time Allocated on time Allocated on time 35
Somer5et AGE UK SOMERSET (Company Limited by Guarantee) ageuK Notes to the Financial Statements for the ear ended 31 March 2024 Independent examination remuneration 2024 2023 Independent examination fee Accounting services Bookkeeping 4,136 6,984 2, 000 8, 363 4,986 11,120 15,349 Governance costs Unrestricted Restricted Total Unrestricted Restricted Total Funds Funds Funds Funds Funds Funds 2024 2023 Independent examination fee Accounting services Bookkeeping Legal fees 4,136 6,984 28.372 1,620 4,136 6,984 28.372 1,620 2,000 10,253 7.365 2,472 2,000 10,253 7,365 2,472 41,112 41,112 22, 090 22, 090 10 Grants payable Unrestricted Restricted Total Unrestricted Restricted Total Funds Funds Funds Funds Funds Funds 2023 2024 Grants have been paid out for the following activities.. Surviving Winter 29,130 29,130 Hardship Fund 32, 922 32, 922 3, 850 3, 850 29,130 29,130 36,772 36, 772 36
•1 Sornerset ageuK AGE UK SOMERSET (Company Limited by Guarantee) Notes to the Financial Statements for the ear ended 31 March 2024 11 Trustee directors None of the Trust* Directors (or any persons connected with them) received any remuneration during the year (2023.. none). No expenses were reimbursed to Trustee Director8 {2023.' none>. No donations were reiVed from the Trustee Directors during the year (2023." none). 12 Wages and salaries 2024 2023 Wages and salaries Employer National Insurance Employer Pension Other staff costs 673,529 35,019 30.260 5,942 584,206 30, 884 25.547 5.680 744,750 646.317 Presented within ex enditure as follows: Expenditure on charitable activities.. Staff costs Support costs allocated 582,968 161,782 507. 752 138.565 744,750 646,317 One individual employee was paid over £60,000 {2023." 1). The average monthly number of employees, calculatecj as full-time equivalents, during the year was.. 2024 No 18 2023 No 17 Charitable activities Governance 19 18 37
Somerset AGE UK SOMERSET (Company Limited by Guarantee) ageuK Notes to the Financial Statements for the ear ended 31 March 2024 12 Wages and salaries (continued) The average head count during the year was 60 (2023.. 54. The key management personnel is identified as the Chief Executive Officer. The total employee benefits, inclusive of pension and social security costs, of the key management personnel of the Charity were £66,418 (2023. £63, 716). 13 Defined contribution pension 8cheme The Charity makes contributions to pension schemes on behalf of employees. which involves payment of contributions into employees, personal pension schemes. The pension cost charge for the year represents contributions payable by the Chanty to the scheme and amounted to £30,260 {2023." £25. 54n. Contributions totalling £4.971 (2023.. £4.049) were payable to the scheme at the end of the year and are included in other creditors. 14 Tangible assets Other Computers Equipment Total Cost As at 0110412023 Additions 33.748 989 9,922 34,737 9,922 As at 3110312024 33,748 10,911 44,659 DepCiatIon As at 0110412023 Charge for year 29,526 2,543 989 3,307 30,515 5,850 As at 3110312024 32.069 4,296 Net book value As at 3110312024 1,679 6,615 8,294 As at 3110312023 4,222 4,222 38
Somerset age UK AGE UK SOMERSET (Company Limited by Guarantee) Notes to the Financial Statements for the ear ended 31 March 2024 15 Investments Total 2024 Total 2023 Age UK Somerset Trading LTD Ordinary shares of £1 each Age UK Somerset Trading LTD (Company Registration Number". 03847089) was incorporated on 23 September 1999 as a wholly owned trading subsidiary of Age UK Somerset. The parent chanty holds 100°/o of the issued share capitsl and 100 % of the voting rights of the subsidiary trading company. The trading subsidiary gift aids any taxable profits to Age UK Somerset annually under the Gift Aid bcheme. The trading subsidiary ceased trading on 22 January 2020. Registered Offi.. refer to page 3 Rcference and Administrats've Details 21122 The results of Age UK Somerset Trading LTD were as follows.. 2024 2023 Turnover Costs of sales Gross profit Administrative expenses Operating loss Gift aid to Age UK Somerset The assets and liabilities were: Current assets Current liabilities Total net assets Called up share capital Retained Eamings 39
Somerset AGE UK SOMERSET (Company Limited by Guarantee) ageuK Notes to the Financial Ststements for the ear ended 31 March 2024 16 Debtors 2024 2023 Trade debtors Other debtors Prepayments 6,155 75,519 6,057 18,802 17,229 4,200 87,731 40,231 17 Creditors - Amounts falling due within one year 2024 2023 Trade creditors Other creditors and accruals PAYE Income Tax & National Insurance Amounts due to group undertaking5 6,707 36,166 8,213 12,612 42. 121 9,962 51,088 64,697 18 Grants rècèived in advanca 2024 2023 Balance as at 1 April Allocated in year Received in year 10.082 (10,082) 17,385 (17,385) 10,082 Balance as at 31 March 10,082 40
Somerset ageuK AGE UK SOMERSET (Company Limited by Guarantee) Notes to the Financial Statements for the ear ended 31 March 2024 19 Statement of funds- for the year ended 31 March 2024 Balance 1 Apr 2023 Balance Transfers 31 Mar 2024 Income Expenditure Restricted funds Ageing Well Somerset Ageing Well North Somerset Befriending Somerset Active Befriending Somerset Active Befriending North Somerset Friendly Phone Calls Ageing Well Falls Prevention Somerset Ageing Well Falls Prevention North Somerset Information & Advice 62.192 48,968 195,316 104,054 858 14,223 133,124 55,086 858 9,681 3,342 1,200 7,498 35,123 51,444 15.746 29,573 26,876 21,871 102.622 112,120 9,498 12,856 39,400 130,850 57,145 84,496 4,889 46,355 North Somerset (SCAMS) North Somerset Projects 15.018 19,312 3.832 4,294 5,486 1,654 Surviving Winter Toe Nail Cutting Mental Wellness Support The National Lottery Community Fund- RC South West Region 1,041 Chat & Map Service 51,021 Taunton Cider Trust 21,423 Mendip & Wells 25,000 29,800 23.205 18,900 29,130 67,925 105,558 670 44,720 86,658 41,487 73,783 8.062 31,255 {31,255) 11,702 21,423 9,824 14,171 (1,005) Total restricted funds 127,667 600,209 935,304 347,802 140.374 41
Somerset AGE UK SOMERSET (Company Limited by Guarantee) ageuK Notes to the Financial Statements for the ear ended 31 March 2024 19 Statement of funds for the year ended 31 March 2024 (continued) Balance 1 Apr 2023 Income Expenditure Balance 31 Mar 2024 Transfers Unrestrictsd funds Designated.. Ageing Well Somerset Ageing Well North Somerset Befriending Somerset Acts've Betriending Somerset Active Befriending North Somerset Friendly Phone Calls Ageing Well Falls Prevention Somerset Ageing Well Falls Prevention North Somerset Information & Advice North Somerset (SCAMS) Surviving Winter Toenail Cutting Mental Wellness Support Chat & Map Servi Volunteers IT Hardware Renewals 26.000 IT Infrastructure Development 80,000 North Somerset & Somerset Services 97,385 57,599 (97,385) (52,802) (858) (3,760) 814 16,388 150 5,612 15,529 3,610 125 3,550 3,000 3,675 3,000 40.070 (8,492> 31,578 9,266 6,946 12,040 11.174 585 {4,8891 16,417 18,120 1585) 40,557 24.405 25 30.305 (40,5571 (26.6181 2,213 30 55 42,670 12,365 26,000 73,356 {6,644) 331 (331) Total designated funds 142,263 324,304 42.670 (230,5561 193,343 General 402,541 118,817 87,756 (117,246) 316,355 Total unrestricted funds 544,804 443.121 130,426 {347,802} 509,698 Total funds 672.471 1,043,331 1,065.730 650,072 42
Somer5et AGE UK SOMERSET (Company Limited by Guarantee) ageuK Notes to the Financial Statements for the ear ended 31 March 2024 19 Statement of funds for the year ended 31 March 2024 (continued) Statement of funds - Restricted funds detail Ageing Well Somerset is the service that provides older people with opportunities to get together to stay fit and acts've. It is a highly sucSsful project funded by service fee income, fundraising and grants from Somerset County Council and other bodies. It has been running ft)r several years to promote healthy lifestyles. improved mobility and mental wellness benefits for older people, with activity classes organised across Somerset. Ageing Well North Somerset is the same service a3 Ageing Well Somerset, funded by service fee income, contracts with North Somerset Council and other grants from other bodies. It has also been running very successfully for a number of years as in Somerset. Befriending Somerset is a service aimed at helping to combat loneliness and isolation across Somerset and North Somerset. Funding in this financial year was in the main grants from the NHS and Somerset County Council (for the area of Somerset only). Active Befriending Somerset is a service very much follows the research carried out by the NHS in recognising that any form of movement can only be beneficial to individuals. The serviGe thu5 provide5 both Gompanionship and gentle movement through walking. It is often referred to as our'walk and Talk, servi. Active Befriending North Somerset is the same service as Active Befriending Somerset, funded by contracts with North Somerset Council. Ageing Well Falls Prevention Somerset is the provision of exercise classes tailored specifically to individuals who have been referred as in need of falls prevention. Stay Strong Stay Steady In Somerset Is deliverecj under contract with èiomerset County Council and Is also a fee income service. Ageing Well Falls Prevention North Somerset is the same service as Ageing Well Falls Prevention Somerset. It has been funded on a grant basis by Pier Health Group for BNSSG ICB and is also a fee income service. 43
Somerset AGE UK SOMERSET (Company Limited by Guarantee) ageuK Notes to the Flnanclal Statements for the ear ended 31 March 2024 19 Statement of funds for the year ended 31 March 2024 {continued) Information & Advice provides online and telephone acce5S to up to date information on older people's issues and provides advice on services that are available in Somerset and North Somerset, helping older people to make infomied decisions. It was funded during the year through grants from organisations including Somerset County Council, North Somerset Council, Age UK and grants from other bodies. There is some service fee income in relation to donations given after successful attendance allowance claims. During the year the National Lottery supported the awareness of this seNice through the Cost of Living fund enabling 'drop-in' sessions across the area for older people to come in for information and advise. Information & Advi North Somerset (SCAMS) is an Anti-scams project with North Somerset Trading Standards funded by a grant from North Somerset Council. Age UK Somerset helps many vulnerable and elderly people each year who have been victims of scamming and many awareness raising sessions are held to equip people vtho may be targeted. North Somerset Projects covers a range of activities that are supported and grant funded by North Somerset Council ancjlor the Bristol, North Somerset and South Gloucestershire Clinical Commissioning Group {BNSSG). Project initiatives were in development during the financial year to best enable community impact. Surviwng Winter is a small grant giving programme vlith fiJnds provided by Somerset Community Foundation to support older people in Somerset experiencing fuel poverty in winter. Funds provided by the St Monica Trust similarly supported those in North Somerset. There is a small management fee involved. Toenail Cutting provideg a basic toenail cutting service via a network of community-based clinics. It is funded by service fee income and the Somerset NHS Foundation Trust on a contract basis. It is available to older people living in Somerset with the aim of improving their quality of life and mobility. This setvice has also been registered with the Care Quality Commission (CQC) to enable a small-scale domiciliary service to be provided to housebound older people. The service is recognised as a 'Good' service under CQC inspection rules.
Somerset ageuK AGE UK SOMERSET {Company Limited by Guarantee) Notes to the Financial Statements for the ear ended 31 March 2024 19 Statement of funds for the year ended 31 March 2024 Icontinued Mental Wellbeing Support currently encompasses two service provisions. Firstly. Age UK Somerset's involvement in the Somerset-wide Open Mental Health partnership, within which Age UK Somerset has been commissioned and funded by Rethink to provide a Friendly Phone Calls support service in Somerset for older clients who are suffering mild to moderate mental health difficults-es. The partnership consists of 10 VCSE organisations working in tandem with Somerset NHS Foundation Trust to provide a 'no wrong doorf access to mental health servicc across the county. Secondly the provision of an income fee service called Cognitive Stimulation Therapy {CST), proven to be beneficial in the eady stages of dementia in older people. During this financial year our CST provision was funded by Somerset County Council and Age UK. The CST service has expanded into North Somerset during this financial year. The National Lottery Communities fund- RC South West Region is a project whose aim is to support older people maintain Independen and wellbeing through the use of holistic assessment that may identify specific issues that will lead to more specific outcomes such as reduced anxiety levels, improved wellbeing and social interactions, improved living conditions and nutrits'on levels, and an increase in activities and movement and balance. Chat & Map Service is the same project as that which has been part funded by the National Lottery Communities fund with the same aims enabling the project to be a free to the user programme offering a holistic approach to solving the issues that may be affecting the quality of life of an older person, this starts with a chat to help map what daily life is like for individuals and ends with solutions to make daily life better. £31,255 has been transferred to the National Lottery Communities fund to offset against excess expenditure arising in the year. Taunton Cider Trust was set up to enable former employees, who suffer financial hardship, to apply for and receive some small financial help. The trustees, all of whom are now well alon9 in years, closed the trust and transferred the remaining finances and grant giving responsibilities to Age UK Somerset in March 2022. It was agreed by trustees that the fund would remain as a restricted fund for the period on 5 years from the date of transfer from the trust, at which time it would be at the discretion of Age UK Somerset as to how any remaining fvjnds would be distributed. A ringfenced donation from the Estate of Mr RG Patterson for the benefit of Mendip & Wells Area has been used to support existing services in the area idents-fied. Direct expenditure has supported the provision of Ageing Well and Falls Prevention classes, as well as supporting older people through the provision ot the Befriending Service In the area. £1,006 has been transferred to the Falls Prevention Service to be utilised against the training of new instructors in the area. 45
Somerset AGE UK SOMERSET (Company Limited by Guarantee) ageuK Notes to the Financial Statements for the ear ended 31 March 2024 19 Statement of funds (continued)- Designated funds detail Ageing Well Somerset includes unrestricted service fees income of £94,181 received from the service and donated income of £3,204, theso have boan transferred to offsgt restricted expenditure in this service. Ageing Well North Somerset includes unrestricted service fees income of £56,375 received from the service and donated income of £1.224. £52.802 of the designated fund has been transferred to offset restn'cted expenditure in this seNlCe. Ageing Well Falls Prevention Somerset includes unrestricted service fees income of £40,018 received from the Servi and donated income of £52. £8,492 of the designated fijnd has been transferred to offset restricted expenditure in this service, the remaining balance will be used to offset an anticipated deficit in this service in the next financial year. Ageing Well Falls Prevention North Somerset includes unrestricted service fees income of £12,040 received from the service. £4.889 of the designated fijnd has been transferred to offset restricted expenditure in this service, the remaining balance will be used to offset an anticipated restricted deficit in this service in the next financial year. Informab'on & Advi includes unrestricted donated and service income of £11.174. The remaining balance will be retained for offset against any future serwce deficit. Information & Advice North Somerset (SCAMS) includes unrestricted donated income of £58fj This has been transferred to offset restricted expenditure in this gerviee. This service has been withdrawn at the end of the financial year due to the withdrawn of funding. Befriending Somerset includes unrestricted donated income of £nil. £858 of the designated fund has been transferred to offset restricted expenditure in this service. Active Befriending Somerset includes unrestricted donated income of £3,610. This balance has been transferred to offset restricted expenditure In this servi. Active Befriending North Somerset includes unrestricted donated income of £3,550. The remaining balance will be retained for offset against any future service deficit. Fiiendly Phone Calls includes unrestricted donated incorne of £3,000. The remaining balance will be retained for offset against any future service deficit. 46
Somerset AGE UK SOMERSET (Company Limited by Guarantee) ageuK Notes to the Financial Statements for the ear ended 31 March 2024 19 statement of funds (contlnued) - Designated funds detail Chat and Map Service includes unrestricted donated income of £25. The remaining balance will be retained for offset against any future service deficiL Toenail Cutting includes unrestricted Se fees income of £40,533 received from the service and donated income of £24. these have been transferred to oftset restricted expenditure in this service. Mental Wellness Support includes unrestricted service fees income of £24,300 from the Cognitive Stimulation Therapy service and donations of £105. These have been transferred to offset restricted expenditure in this service. Volunteers includes unrestricted income of £30,305 to help support and maintain the netwurk ofAge UK volunteers to provide a range of activities with the community. £12,365 was utilised from general funds income to cover the shortfall in the service expenditure in the year. IT Hardware renewal funding requirements has been designated £26,000 from the General Fund. This is to replace computer and mobile phone items at the end of their useful life. This fund will be released to general unrestricted funds during the next financial year. IT Infrastructure development funding requirements has been designated £80,000 from the General Fund for the following areas of the organisation.. £6,644 has been transferred to support a consultation on process improvement, finances and business model reformation for Ageing Well. The balance on this fund will be released to general unrestricted funds in the next fjnancial year. North Somerset & Somerset SeNices received no unrestricted service fees income in this financial ycar. The balance of £331 has been returned for use as required by the Something to Do Club in Clevedon. Surviving Winter fund received no unrestricted income during the year. 47
Somerset AGE UK SOMERSET {Company Limited by Guarantee) ageuK Notes to the Financial Statements for the ear ended 31 March 2024 19 Statement of funds - for the year ended 31 March 2023 Balance 1 Apr 2022 BalanGe Transfers 31 Mar 2023 Income Expenditure Restrlcted funds Ageing Well Somerset Ageing Well North Somerset Falls Prevention Somerset (Ageing Well SSSS) Fa115 Prevention North Somerset (Ageing Well SSNS} 1,871 Information & Advice 4,856 North Somerset (SCAMS) 1.671 Befriending Somerset 3,131 Active Befriending Somerset Active Befriending North Somerset North Somerset Projects Surviving Winter Toe Nail Cutting Mental Wellness Support Chat & Map Servi The National Lottery Community Fund - RC South West Region Taunton Cider Trust Mendip & Wells 80.942 81.777 183.275 97.499 102.333 15,722 43,801 101,431 57,630 60,000 63,982 15,018 49,015 87,049 18,186 6,838 7,508 12,856 18,211 1,497 3,707 10,850 3,342 19,925 6,000 23,050 23.205 74,196 74,458 12,427 8,169 29,782 68,779 104,366 23,437 7,498 5,486 7.655 4,050 2,682 45,574 24,450 5,720 51,021 17,820 21,423 25,000 16,779 1,041 21,423 25,000 Total restricted funds 50,377 620,024 814,540 271,806 127,667 48
Somerset AGE UK SOMERSET (Company Limited by Guarantee) ageuK Notes to the Financial Statements for the ear ended 31 March 2024 19 Statement of funds {continued)- for the year ended 31 March 2023 Balance 1 Apr 2022 Balance Transfers 31 Mar 2023 Income Expenditure Unrestricted funds Designated.. Ageing Well Somerset Ageing Well North Somerset Befriending Somerset Active Befriending Somerset Active Befriending North Somerset Falls Prevention Somerset (AgeiTlg Well SSSS) Falls Prevention North Somerset (Ageing Well SSNS) Information & Advice North Somerset (SCAMS) Surviving Winter Toenail Cutting Mental Wellness Support Chat & Map Service Volunteers 970 IT Hardware Renewals 26,000 IT Infrastructure Development 80.000 North Somerset & Somerset Services 77.678 30,056 95 150 (77.678) (40,3771 (3,707) 11,135 20,000 814 16,388 150 125 125 33,291 (33,291) 932 18.475 8,334 6.682 349 200 37,515 19,268 30 30,000 9,266 6,946 {18,211) {349) {200) (37,515) (24,450) 7,395 2,213 30 40,145 9,175 26,000 80,000 331 331 Total designated funds 165.238 243.773 40.145 (226,603) 142,263 General 444,660 76.020 72,936 {45,203) 402.541 Total unrestricted funds 609,898 319,793 113,081 (271,806) 544,804 Total funds 660.275 939,817 927.622 672,471 49
Somerset AGE UK SOMERSET (Company Limited by Guarantee) ageuK Notes to the Flnanclal Statements for the ear ended 31 March 2024 20 Analysis of net assets between funds Unrestricted Restricted Totsl unStrICted Restricted Funds Funds 2024 Funds Funds Total 2023 Tangible fixed assets Net current assets 8,290 8.290 501,408 140.374 641.782 4,224 540,580 4,224 127,667 668,247 509,698 140,374 650,072 544,804 127,667 672,471 21 Operating leases The following amounts were charged to the Statement of Financial Activities during the year.. 2024 2023 Operating leases 30,180 34,614 22 Commitments At 31 March 2024 the Charity had total commitments under non-cancellable operating leases and Servi contracts expiring as follows.. Land and buildings 2024 2023 Less than one year Beeen two and five years 34,027 11,342 33,045 11,015 45,369 44,060 other 2024 2023 Less than one year Beeen and five years 1,512 3,744 4, 005 5,256 4, 005 50